Economy, Business And Markets

TEDPIX Tumbles Further

TEDPIX Tumbles FurtherTEDPIX Tumbles Further

Tehran Stock Exchange’s main index TEDPIX extended its three-day losing streak and shed 373.30 points or 0.46% to close Sunday trade at 80,280.7, with telecoms, automakers and oil refining companies being the main laggards, and pharmaceutical firms posting the biggest losses.

More than 1.4 billion shares valued at $107 million were traded, according to TSE data.

The number of shares traded and daily trade value grew by about 25% compared to Saturday.

Exir Pharmaceutical Company was the day’s biggest loser, as its shares went down 5% to 20,060 rials each. Ardakan Industrial Ceramics Company was the number-one winner, with its shares rising 5% to 44,880 rials each.

Iran Telecommunications Company weighed most on the TEDPIX with -105.2 points, followed by Iran Khodro Company and Bandar Abbas Oil Refining Company with -63.82 and -49.57 points respectively.

Iran Shipping Lines Company provided the biggest boost to the benchmark with 41.41 points. Credit and Pension Fund Investment Company and Jam Petrochemical Company came next with 38.79 and 24.92 points respectively.

The Price Index lost 141.90 points or 0.46% to settle at 30,523.9.

The First Market Index shed 398 points or 0.70% to post 56,488.4.

The Second Market Index inched down 2.90 points or less than 0.01% to settle at 173,723.1.

The Industry Index gave up 249.90 points or 0.37% to reach 66,785.3.

The Free Float Index was down 404.53 points or 0.53% to close at 92,533.10.

The TSE 30 Index lost 22 points or 0.65% to record 3,341, while the TSE 50 Index tumbled 19.30 points or 0.59% to settle at 3,230.6.

  IFX Down 0.79%

Iran Fara Bourse’s main index IFX was down 6.41 points or 0.79% to stop at 805.17.

More than 278 million securities valued at $57.8 million were transacted.

Esfahan Steel Company, a weeklong best performer, registered the highest number of shares traded and the highest daily trade value, as 35.5 million of its shares worth $2.8 million changed hands.

Sobhan Pharmaceutical Company, Ghasem Distribution Company and Ravan Fanavar Engineering Company showed the highest increase in share value. Zayandehrood Housing Investment Company, Saina Company and Shiraz Oil Refining Company recorded the highest decline.

Middle East Mines and Mineral Industries Development Holding Company, Damavand Electricity Company and Tehran Oil Refining Company weighed most on IFX.

Etemad Fund, with the transaction of 1.9 million of its shares, registered the highest trade volume among listed exchange-traded funds. Moreover, 30,000 leasing bonds of Golgohar Mining and Industrial Company with a three-month maturity were sold out.